ORSC Blog

Why Work in Progress Schedules Are So Important “Can you send me a WIP that goes with this statement?” “Can you send me the fiscal year-end statement with WIP?” I’m sure you’ve heard those questions or some ...
Underbilling: Why Your Surety Has Concerns — and You Should, Too Underbilling occurs when work you’ve completed hasn’t been billed or costs you’ve incurred haven’t been reimbursed. Nearly every contractor has some underbilling ...
Maintaining Your Surety Relationship — Share the Ugly, Celebrate the Success In order to maintain a good relationship with your surety, you must be as transparent as possible. We really don’t like surprises. If anything happens with your ...
Construction Oriented CPAs Play Key Role for Contractor's Bonding Needs We often hear contractors say that getting a job is the hard part – completing the project is the easy part. Many factors go into that, one of which is having ...
How Work in Progress Reports Benefit Contractors, Accountants, and Everyone Else Cost overruns are a common occurrence in the construction industry. It’s far too easy at the mid-point of any project to misjudge billing against the actual ...
Work in Process Reports | Key For Contractors and Surety Companies The Work in Process schedule (WIP) is one of the most important reports produced by a contractor's accounting system. Surety companies rely heavily on this report ...

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